Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1887-01-07

| court holus that the credits from which the
citizens OF Ohio arc thus allowed to deduct thell
| debts are moneyed capital In tho hands OF pri
| vate individuals within the meaning OF section
52i9 OF tho Revised Statutes OF the United
| ~ higher rate TO not allow similar deduction
| from their valuation.
The capital and surplus OF the National banks
OF the State amount TO about si6,5OO,0O0. They
| are taxed upon this at about t3i ,OoO,0O0. A con
siderable part OF this S9i,O000O0 will no doubt
| disappear from the duplicate after this year II
| the banks insist upon tho advantage tho do
| cision gives thom; md as indicating that they
| will do so, II may be stated that many OF them
| have already made application therefor to tho
| State Board Of Equalization. II may be safely
assumed that at least all such will avail them
selves OF this advantage when they list their
| shares In 1887 The result Will bo not only To
cmbarrass the State, but to unduly burden oil
other classes OF property.
Before suggcstinga possible remedy, another
fact should be mentioned Tho last decennial
appraiscmcnt OF real estate was had at period
| OF great prosperity. 1t was q time OF general
| high values. Since then there has been heavy
decline. Farm property is from twenty-five to
| Atty per cent. cheaper to-day than II was then.
| The consequence is that farming lands OF the
State, where they have not been affected by the
| growth of cities or other development, are now
| taxed on the average more nearly Mt their full
value In money than any other class OF property.
In fact, the farm lands of some OF the counties
are taxed at even more than they could be sold
for. But while this is true OF tho farm lands,
the cities OF the State where there has been
| great growth and development, as In some por-
| tions OF Cincinnati and Mt Cleveland, Toledo.
Columbus and many other cities that might be
named, and the valuations placed upon the real
estate OF these cities In 1880 In the aggregate
| less than fifty per cent. of their present true
value In money, and in some cases 1t will not
exceed twenty-five per cent,
The consciousness OF this lack OF uniformity,
and the consequent injustice that must result TO
all who are fairly taxed, has had much to do
In producing the unsatisfactory results that
have been experienced.
1t is thought that Congress will so amend sec.
nf hp Stntt ttagn nf thn init ttnI
States rs to allow bank shares to be taxed rs
heretofore without deduction. II so, that will
afford remedy against that part of the recent
decision. IL not, you can, IL upon consideration
1t be thought wise to do so, provide against IL
by repeating the definition OF the term credits,
Us used in the constitution, to be found in Sec
statutory definition is thought hy many to be
unconstitutional. 1t has been upheld because
of the supposed hardship of not allowing de-
duction OF debts in making returns for taxes.
There is much to be said on both sides OF the
question. The trainers of the constitution CON
cludcd that no deduction should be allowed
The General Assembly subsequently took the
opposite view, which has ever since obtained
Your attention is called to the matter only that
you may again consider II in view of the serious
consequences 1t has now brought upon us in
connection with the taxation OF National bank
shares.
1t is unfortunate that we should be compelled
for any reason to endure the inequalities OF val
uation that exist, and suffer the evil conse-
quenccs thereof any longer; but 1t is perhapes
to think at your last session, to await the time
for the regular decennial appraisment OF real
estate before having 1t regularly re-valucd.
But IL is thought something may be accom-
plishcd that will afford ut least partial relief In
the special message that has been referred to,
1t is recommended that a State Board OF equal
zation be created to superintend the re-valuation
that was there recommended. The necessity for
such u board does not depend upon u revalua-
tion. On the contrary, 1t may ut least partly
obviate the need of re.nppraisement. Such a
board might be empowered to equaliZe the eX-
isting valuations. II created, it should be given
full power TO equnlize county with county and
every class and kind OF property with every
other.
The action of such n board would secure uni.
formity OF valuation in law well in fact,
and thus put an end to the litigation that is now
so successfully prosecuted by not only making
it impossible, but by removing the motive for
IT, since 1t is not believed there would be any
disposition to contest u taxation that was based
on fair and uniform valuation.
In addition to the duties OF equalization, for
which there is such pressing demand, such
board might be of great benefit IL intrusted with
q general supervision of the whole subject OF
taxation, and authorized TO devise and enforce
a more efficient system than now obtains for Sc
curing the listing and taxation OF personal prop
erty.
The recommendation is repeated to provide
for the taxation on their gross receipts of for
eign corporations doing business In Ohio. Among
these may be mentioned telephones, transporta-
tion, sleeping car, parlorcar car trust and car
equipment companies. The further recommended
tion is also repeated that the assessors of Der.
sonal property be appointed in all cities The
recommendation is confined to cities because
the constitution requires the election OF all
township officers.
1t is believed that large amount OF mortgage
securities unjustly escapes taxation. 1t is quite
common TO find mortgages given on property in
Ohio which are not listed for taxation The eX-
cuse given when the mortgagee is applied to is
that he Is only an agent for some one who is
true, but in many Others it is only subterfuge
to evade taxation. This abuse might be largely
prevented by enactng that every mortgage on
land in Ohio shall be taxed where the land is,
and when the tax is not paid by the mortgagee, or
some one for him. the mortgagor may pay the
same, and be credited therefor double the
as for n payment on his debt. By this method
the citizen who makes honest returns would
have no new obligation imposed upon him, and
the nonresident would only be made to pay, as
foreign corporations do, for the privilege he en-
Joys in State that owes him no special privi-
leges.
ing the listing as against the several depostors
of all deposits OF money credits and property
with safety deposit and trust companies.
And the law governing the taxation of private
or unincorporated banks should be so amendedas
to prevent the deduction o: liabilities from cash
and cash items, bonds, stocks and securities held
as investments, as now allowed by section 2IJ9
OF the Revised Statutes OF Ohio.
This deduction is not allowed to any other
class OF taxpayers, and no reason is known why
IL should be continued.
The following communication is deemed i'm
portant 1t is accordingly submitted herewith,
and you are respectfully requested TO give due
attention to the matter to which IL relates:
"AUDrToRs OFFICE, PIKE COUNTY,
"Hon. j. b. Foraker:
DEAR SIR wish TO call
your attention to n defect in the law in regard
TO lands forfeited to the State. There are thou
sands OF acres throughout the State which are
paying no tax and have paid none for several
years past, for the following reasons: The law
states that the advertisement, when the land is
shall be such that person can take the de-
scription as published and locate the land
which is impossible, in Virginia Military land
Therefore 1t is impossible to issue an Auditors
decd which will give good title.
''This fact being generally known by the land
owners, they are refusing to pay their land tax,
able To do so, knowing II their lands are sold
they can not be dispossessed. They let the
purchaser pay their tax for all time to come, or
until the purchaser quits, and lets II go back to
the State as several tracts have done in this
county.
II would suggest an amendment in regard to
tax sales, giving freehoders more time to rc-
deem in (say five years in place OF six months),
and after the time fixed for said redemption, all
defects by reason OF errors In description or
% amount oftax, etc, shall be cured and the he deed deed
and valid in law, so the purchaser can proceed
to dispossess and take charge OF the land. II
the law was so amended am satisfied that nine
tenths OF the land now forfeited to the State
would be redeemed and the tax paid thereon,
and the other tenth would sell, thus bringing in
q large amount OF tax to the State and county,
which will not and can not be collected under
the present law. There are, at the present time
6a5 tracts of land forfeited to the State in this
county. Yours respectfully.
JAS. ARMSTRONG,
auditor Pike County"
II these recommendations can be framed into
laws, with efficient provisions for their enforce
ment, II is believed that the unjust Inequalities
that now exist can be removed and that un-
taxed property TO the value of:many millions
can be brought upon the duplicate TO the great
relief of all classes OF taxpayers.
Under the provision of the act of April II,
1885, the Commissioners OF the Sinking Fund,
with the approval OF the Governor entered into
the following contract with Albert Meter,
which was guaranteed by the Citizens National
Bank, OF Cincinnati, and is being now through
the agency OF that bank, satisfactorily and sue
cessfully carried out:
WHEREAS, The Commissioners OF the Sink
ing Fund of Ohio, on the 9th day OF February,
1880 advertised that they would receive sealed
proposals on the 10Th day of March, 1886, from
the holders of Ohio six per cent, Canal Bonds,
outstanding and due, and redecmable December
81 1896, for the exchange of any portion or all OF
the certificates OF said outstanding funded debt,
for the certificates OF the funded debt author